Shoppers Drug Mart Corporation amends its existing bank credit facility and increases its commercial paper program

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[{"type":"text","content":"\n\n\n\nTORONTO, April 22 /CNW/ - Shoppers Drug Mart Corporation (TSX: SC) today\nannounced that it has completed an amendment to its existing bank credit\nfacility which matures in June of 2011, increasing the size of the facility\nfrom $550 million to $800 million. The bank credit facility is available for\ngeneral corporate purposes, including refinancing existing indebtedness and to\nbackstop the Company's commercial paper program. In conjunction with this\namendment, the Company also announced that its commercial paper program has\nbeen increased from $300 million to $500 million. The Company's commercial\npaper program retains its rating of R-1(low) by Dominion Bond Rating Service.\nOn a consolidated basis, no incremental debt has been incurred by the Company\nas a result of these changes.\n\n\nAbout Shoppers Drug Mart Corporation\n\n\nShoppers Drug Mart Corporation is one of the most recognized and trusted\nnames in Canadian retailing. The Company is the licensor of full-service\nretail drug stores operating under the name Shoppers Drug Mart (Pharmaprix in\nQuebec). With more than 1,080 Shoppers Drug Mart and Pharmaprix stores\noperating in prime locations in each province and two territories, the Company\nis one of the most convenient retailers in Canada. The Company also owns and\noperates 65 Shoppers Home Health Care stores, making it the largest Canadian\nretailer of home health care products and services. In addition to its retail\nstore network, the Company owns MediSystem Technologies Inc., a provider of\npharmaceutical products and services to long-term care facilities in Ontario\nand Alberta.\n\n\n%SEDAR: 00016987EF\n\n\n","length":1700,"tagName":"div"}]

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